FLOKI Price Surges 20% as Team Hints at Major Marketing Announcement
How Long Will FLOKI Continue to Increase? | Credit: Hameem Sarwar
Key Takeaways
- The FLOKI price has fallen over 60% since its all-time high in June.
- It recently broke out from a 105-day descending resistance trend line.
- Is the FLOKI correction finally over, and has the price started its recovery?
On Sept. 19, the FLOKI team announced a major marketing teaser for Sept. 24, which will be held in the FLOKI X Spaces. There are no hints yet as to what the announcement will be. The Floki Inu X news accelerated the upward movement that has been ongoing for the past four days, now over 20%.
Let’s analyze the FLOKI price action and determine if it can sustain the increase and recover some of its losses since the June all-time high.
FLOKI Price Begins Recovery
The weekly chart shows that the FLOKI price has fallen since its all-time high of $0.000349 in June. The decrease culminated in a low of $0.000095 in August, and FLOKI began to increase afterward. In September, the price created a higher low.
The most likely wave count suggests the meme coin completed a five-wave increase starting in Oct. 2023 and ending with the all-time high. If that is the case, the ongoing decrease is not over yet, since it was too short relative to the previous increase.
If the count is accurate, the FLOKI token price has begun the B wave in its A-B-C correction. While the rally could be significant, reaching the 0.618 Fibonacci retracement resistance level at $0.00025, it may be just a relief rally, that is eventually followed by another downward movement.
Then, FLOKI could begin another decline toward the August lows (red line).
FLOKI Price Breaks Out
The shorter-term daily chart also suggests that the price will begin an upward movement. After creating several higher lows since August, FLOKI finally broke out from its descending resistance trend line on Sept. 19. At the time, the trend line had existed for 105 days.
Additionally, FLOKI also reclaimed the $0.000130 horizontal area and validated it as support. So, the FLOKI price action suggests an increase toward the 0.618 Fibonacci retracement resistance is likely. This would be an upward movement of 85%.
On top of this, the daily Relative Strength Index (RSI) and MACD have turned bullish. The RSI just moved above 50 (black circle), while the MACD made a bullish cross and is approaching the zero mark.
Relief Rally Imminent
Even though FLOKI has fallen considerably since its all-time high price, it has shown strength since August 5, boosted by breaking out of a descending resistance trend line. The long- and short-term readings suggest an increase of 85% could follow, taking FLOKI to $0.000251.
Floki Price Prediction 2025: FLOKI Price Analysis Could See Meme Coin Reach New Highs
